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Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

2021 Dodge Durango to get SRT Hellcat limited edition

In January, spy photographers caught what we thought might be a mild hybrid version of the coming Dodge Durango, based on information Mopar Insiders gleaned from the UAW contract with Fiat Chrysler. Turns out we were correct, Mopar Insiders citing info from sources at Fiat Chrysler that the base engine on the 2021 Durango will be a 3.6-liter Pentastar V6 with eTorque. We don't have output figures yet, but he current Durango's base engine is the non-hybrid 3.6-liter Pentastar V6 making 293 hp and 260 pound-feet of torque in SXT trim. The V6 hybrid powertrain is offered in the Ram 1500 making 305 horsepower and 269 pound-feet of torque, and the Jeep Wrangler making 285 hp and 260 lb-ft., but doesn't increase output compared to the non-hybrid engine in either of those models. We're sure buyers would love for Dodge to bump the numbers up into Ram territory, but the eTorque unit serves the god of fuel economy and low-end refinement, so we shouldn't be surprised if there's no change. The MI report says Dodge has three other powertrains coming for 2021. The 5.7-liter Hemi V8 that comes standard on the Durango RT will carry over, adding eTorque as an option. That's the same standard and optional configuration Ram offers on the 1500 equipped with the 5.7-liter Hemi V8. The Durango's V8 produces 360 hp and 390 lb-ft., versus 395 hp and 410 lb-ft in the Ram. On the Ram, the eTorque system improves fuel economy by 2 mpg in the city, 1 mpg on the highway. The 6.4-liter Hemi V8 on the Durango SRT moves into 2021 as well. But the Durango SRT will need to cede its crown to a Durango SRT Hellcat coming next year. Dodge has already put the Hellcat engine in a Durango Pursuit model for law enforcement, making the full 797-hp wrought by the Hellcat Redeye motor. A couple of months ago, Road & Track caught a Hellcat badge on a Durango in a now-removed trailer for the new "Fast & Furious" film, leading all to believe a civilian-use version of the muscle SUV was on the way. MI claims we'll get the Hellcat's 707 hp and 645 lb-ft., but the trim will launch as a limited edition bearing numbered plaques on the instrument panel.  The only bad news in all this is that production shutdowns have delayed the 2021 Durango and the brand new three-row Jeep Grand Cherokee "at least three months from their original launch dates." Related Video:    

Dodge Durango gets performance Mopar options for R/T, SRT

Fiat Chrysler is showing new performance add-ons for the 2018 Dodge Durango R/T and SRT models at the Chicago Auto Show, including the familiar Dodge dual center stripes and a new Mopar exhaust system. The 475-horsepower SRT model, which is powered by a 6.4-liter Hemi V8, will also offer a lowering spring kit and a carbon-fiber instrument panel. The signature two-stripe treatment blankets the three-row SUV from the front to rear fascia and is tailored to the signature NACA duct-hood vent. It'll come in five different colors — bright blue, flame red, gunmetal low gloss (metallic finish), low-gloss black and sterling silver — and retail for $1,195 starting in March. View 7 Photos Mopar developed its new bolt-on performance exhaust systems with Dodge SRT engineers and designers to improve flow and achieve that sweet sound. It features a chromium 304 stainless steel construction to make it more resistant to corrosion, with stainless steel band-style clamps and welded and polished 4-inch tips. It costs $1,595 for the Durango R/T and is available now. On the SRT, the price goes up to $1,850, with the package available in the second quarter. New Mopar springs improve the Durango SRT's high-speed cornering stability and consistency by lowering the SUV an average of 15 millimeters, or 0.6 inches. They were developed with proprietary Dodge SRT data not available to the aftermarket to tune the lowering springs to the factory dampers, giving the vehicle less rear-end squat during acceleration, less nose dive while braking and reduced body roll on corners. MSRP on the package, which is available now, is $325. For just under $2,500 you can get the SRT Interior Appearance Group package, which adds a premium-wrapped carbon-fiber instrument panel and door bezels, Dinamica soft-touch headliner and accent paint on speaker trim rings. The Chicago Auto Show is open to the public Feb. 10-19. Related Gallery 2018 Dodge Durango R/T, SRT Mopar performance options Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Chicago Auto Show Dodge SUV Performance tuning sport utility vehicle